18 January 2019 – trading update
The specialist currency manager has issued a trading update for the third quarter of its financial year, being the three months to 31 December, which has revealed a slight fall in assets under management equivalent to £45.4bn from £47,4bn at 30 September. Of this decline, £1.1bn was due to the withdrawal of funds and £0.9bn due to movements in exchange rates. The group continues to diversify and introduce more products and services for its clients and during the period the company earned performance fees of £1.3m. A confident statement on prospects bodes well for the rest of the year and we maintain our recommendation of BUY.